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Canada ditches the penny

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Re: Canada ditches the penny

#91
post #89
post #24

Earlier quoted context omitted.

As a fellow Australian the pennies aren't what I found most bizarre about US and Canadian currency, I more often found myself getting tripped up by the fact that listed prices in US and Canadian stores never include sales tax.

Most stores in the US don't include sales tax in the listed price, but some do. Examples include vending machines, Starbucks and other coffee shops (but not usually locations inside book stores and supermarkets), and concession stands at concerts, sporting events, and fairs. They probably do it because they don't want to deal with pennies. Concession stands often go further and use whole dollar amounts, since the pri…

When I was in grad school there was a pizza-by-the-slice place where all prices were tax-included and an exact multiple of 25c. The only coins in their register were quarters. If you gave them any other coin, they counted it out and dumped it in a jar next to the register. A manager claimed that it was way more efficient and easy to count that way (and throughput mattered a lot during busy times). It also meant that a large percentage of the time the customers had exact change counted out before they even got to the register, which meant they didn't even need to make change and throughput increased further.

Re: Canada ditches the penny

#92
post #20

Just as a point of interest, Australia removed the 1 and 2 cent coins from circulation back in 1992. Prices have been rounded to the nearest 5 cent value when paying with cash ever since. A comment on this thread said that it's madness, but it's all someone my age has grown up with.

We need to follow NZ's lead and ditch the five cent coin next. Even 10c pieces are a waste of time. Can't think of many cash transactions in my daily life where it would bother me to round to the nearest 20c. Certainly not dinner or a round of drinks, lunch, a full bag of groceries, etc.

Re: Canada ditches the penny

#93

Earlier quoted context omitted.

actually, it'll be $20.00

I sure wish it would. I never really understood the supposed psychology behind .99 and .95. To me, three nines looks less welcoming than three zeros.

It's so it doesn't cross the subconscious barrier of "under 20 dollars". $99.99 doesn't cross the subconscious barrier of $100 for example. It's probably been A/B tested to death, since it's so widespread among retailers.

Re: Canada ditches the penny

#94

Earlier quoted context omitted.

actually, it'll be $20.00

I sure wish it would. I never really understood the supposed psychology behind .99 and .95. To me, three nines looks less welcoming than three zeros.

It's so it doesn't cross the subconscious barrier of "under 20 dollars". $99.99 doesn't cross the subconscious barrier of $100 for example. It's probably been A/B tested to death, since it's so widespread among retailers.

Re: Canada ditches the penny

#95
post #90

Earlier quoted context omitted.

Stop minting pennies, nickels, and quarters; start minting 20 cent pieces and mint more 50 cent pieces; let the free market sort it out. I'm not being flippant, it would actually work, at least as far as not wasting money producing low-value coinage is concerned.

Or, just skip the 20 cent and let 10/50 be the only subdivisions. (Currently, we get by with 1/5 and no 2.) Frankly, if we're talking radical reform I'd rather keep the quarter and ditch the dime; even 10c seems too small to fiddle with most of the time, so 25c is the smallest denomination that seems worth bothering with. (Also, it's ubiquitous in mechanical coin-op devices like laundry machines, pool tables, etc.)

I actually wouldn't mind doing away with coins altogether and going with whole dollar amounts. I hate having to carry around change!

Re: Canada ditches the penny

#96
post #70

Earlier quoted context omitted.

Say that it's a "smoke screen" is needlessly partisan. It is, indeed, a line item. It deals with something that has come up for consideration since the 80s . If it gets attention, it gets attention. But do you think no one notices the other changes because they're ditching the penny? That is preposterous.

Memo by Jo Moore, British special adviser and press officer, 2.55pm on September 11, 2001: > It's now a very good day to get out anything we want to bury. Councillors' expenses? It's an extremely common practice to release unpopular information, or pass unpopular bills when something else is bound to hit the front page.

[deleted]

Re: Canada ditches the penny

#97

Earlier quoted context omitted.

Not particularly far to the right. Setting aside the Quebec-only Bloc, the three main parties in Canada are center-right, centrist, and center-left. They all like to claim the others are extremists, but all of them have perfectly mainstream views.

There's another party! And yeah, she's pretty centrist too.

Except for that whole "wifi is going to irradiate us" stance.

Re: Canada ditches the penny

#99

Earlier quoted context omitted.

CGP Grey has an excellent youtube video on the whole issue for the US. The US currently makes 4 billion 1 cent coins annually. And they have already been abolished at US military overseas bases. http://www.youtube.com/watch?v=y5UT04p5f7U (Come to think of it, doesn't the US military use a lot more metric system than the general population. If so, this would be a good reason to increase the military since it would app…

The US military also uses a 24-hour clock (2000 hours instead of 8:00 PM) and consistent little-endian date formats (29 March 2012 instead of March 29 2012).

That does it. I'm now in favour of compulsory military service for everyone, since that is the only way US citizens will be modernized.

Re: Canada ditches the penny

#100
post #3

This line-item is basically a smokescreen for cutting all sorts of other important things (like the research tax credit, SR&ED; various social programs; the budget for our national broadcaster, the CBC; and the salary of the Chief Electoral Officer): http://www.reddit.com/r/canada/comments/rjrfn/the_budget_5_b... Amusingly this particular cut was actually a private member proposal from the NDP (the left-most mainstre…

how is this even remotely a smokescreen? it will save money and lower costs for businesses in the long term.

I believe he's arguing that this is a good change that will get a lot of press. With that creating an opportunity to make a lot of bad changes while everyone is focused on this.

Not being up on Canadian politics, I won't take a position on whether or not that is correct, except that the US is in the same boat and I would like it if they would get rid of our penny.

I know there are people who say it's traditional and whatnot, but I don't see anyone clamoring to bring back two or three cent pieces.

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